[jeff]

Welcome to the Q2 2016 CPA Exam Study Group for BEC.

Some BLITZ videos to help your exams: https://www.another71.com/ninja-blitz

Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

[danner]

I'm also having to move ahead with REG. I guess I'll just see where I am in two weeks to decide if I need to put REG down and pick up BEC again. It sure would be nice to actually a pass an exam on first attempt.

FAR - 74 (7/20/15), 81 (10/12/15)
AUD - 72 (11/30/15), 81 (1/18/16)
BEC - 87 (6/6/16)
REG - 8/8/16

[Just_Trying_To_Pass]

Barclay Corporation invested $600,000 in a capital project, including $40,000 in installation charges. The project had a useful life of 12 years with no salvage value and generated cash flows of $150,000 each year. Assuming a 30% tax rate and straight-line depreciation for tax purposes, Barclay's after-tax cash flows per year would be equal to:

c) $120,000.

My Question is for calculating the depreciation of the project is it ALWAYS Cost of investment + Installation costs, set- up costs , shipping expenses ? I think I started to confuse myself because of the wording of this question and thought the project was $600,000 + $40,000 = $640,000 / 12 years = depreciation. But when I re-read it, I think the installation costs are assumed in the $600,000 already.

BEC: 70, 83
REG: 8/13/16
FAR:
AUD:

[jr1751]

@Just_Trying_To_Pass – It's my understanding that the $40,000 in installation charges are already include as part of the $600K. Thus, you should do the following to get the answer:

1) multiply $150,000 by (1-.3) to get the after tax cash flow of $105,000.
2) Divide $600,000 by 12 years to get the annual depreciation ($50,000).
3) Multiply the tax rate (30%) by the $50,000 annual depreciation to get the tax savings of $15,000.
4) Add $105,000 to $15,000 to get the answer of $120,000.

BEC - PASSED

REG - Praying I Passed

AUD - TBD

FAR - TBD

[Just_Trying_To_Pass]

@jr1751 – Thank you. That is what I started to figure after looking into it more. It's this damn Becker BEC Practice final thats trying to pull a bunch of sneaky ways to throw you off. It's making me lose my mind.

BEC: 70, 83
REG: 8/13/16
FAR:
AUD:

[marqzho]

BEC is the hardest section in CPA exam.

REG 90
FAR 95
AUD 98
BEC 84

[Spartans92]

LOL Marqzho, Congrats on finishing up your last section. I am sure you passed, perhaps another score in the 90's a matter of high or low haha.

BEC- PASS

[marqzho]

Spartans92

I am not sure. LOL and I understand you will not believe me.

But this one is really really really hard.

REG 90
FAR 95
AUD 98
BEC 84

[aatoural]

@marqzho all that matters is that you are going to be done. You have no idea how much I am waiting for my time to be done to get here!!!

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[perezc3910]

BEC will be my first exam and I am really hoping that it is the hardest because if they are all like this or worse, I think I am going to shoot myself. These past few weeks just flew by. I have exactly three weeks from today until test day and I feel like I still know nothing. This is just horrible!!

BEC-July 2016
REG-August 2016
FAR-October 2016
AUD-Nov/Dec 2016

[aatoural]

@perezc3910 I feel the same. As I do the MCQs I keep thinking to myself – “if the exam has these long paragraphs for you to figure out the response, I am going to be in trouble”.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[perezc3910]

@aatoural From what I have read in other threads, the test questions are not as long as Becker or Ninja. I'm guessing since we are timed, they won't give us a huge calculation question but I am having a lot of trouble remembering all of the formulas. The concepts are pretty easy but it's just so much to remember. I really hope that I don't get too many calculation questions or I'll be doomed.

BEC-July 2016
REG-August 2016
FAR-October 2016
AUD-Nov/Dec 2016

[aatoural]

I hope the conceptual questions are more straight forward, sometimes I get confused with the wording. The computation questions I feel relatively comfortable.

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[perezc3910]

@aatoural, I wish that I could say the same. The computational questions always kill me. Right now I can't get higher than a 65% on MCQ. I'm glad that I have two test banks though because it has helped me a lot to see variety. What are you doing for review?

BEC-July 2016
REG-August 2016
FAR-October 2016
AUD-Nov/Dec 2016

[perezc3910]

@aatoural, I wish that I could say the same. The computational questions always kill me. Right now I can't get higher than a 65% on MCQ. I'm glad that I have two test banks though because it has helped me a lot to see variety. What are you doing for review?

BEC-July 2016
REG-August 2016
FAR-October 2016
AUD-Nov/Dec 2016

[aatoural]

For now I have a set schedule to do minimum 2 Practice exams of 20 MCQs each for all 6 chapters, plus rework the homework of the questions I had marked the first time around (which were the ones that gave me trouble). I pick a chapter each day to rework (I think chapter 2 is going to take me a bit longer that the rest, I scored really bad in the budgeting section of that chapter the first time around) -a total of around 150 MCQs per week day.

Then I have set up two word documents, one with all the formulas from all chapters and the other with the title of the formulas but the formulas in blank to write them down by memory and then check against the other. I have set up the same process for all the mnemonics in the 6 chapters.

I have also been listening to the classes in my work commute as well.

I have been scoring average 80% in practice exams.Rework of HWs is average 70%

BEC - PASSED
AUD - 8/29/16
FAR - TBS
REG - TBS

[Author]

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